Feeds

HALF of all Bitcoin-investing Winklevoss twins predict $400bn market for the currency

Tyler: Yeah, what he said

Top 5 reasons to deploy VMware with Tegile

Facebook backer-turned-antagonist Cameron Winklevoss has issued a bright forecast for the future of the Bitcoin cryptocurrency.

Speaking in a Reddit Ask Me Anything session, Winklevoss said that he projects the value of Bitcoins could reach upwards of $40,000 at some point in the not-too-distant future.

"Small bull case scenario for Bitcoin is a $400bn market cap, so $40,000 a coin, but I believe it could be much larger," Winklevoss wrote.

"When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines."

One half of the Winklevoss twin brothers-turned-investors-turned-Olympians-turned-investors-again duo, Cameron has emerged as both a major financial backer of Bitcoin and an evangelist for the digital currency.

Earlier this year, Winklevoss claimed to own roughly one per cent of the world's Bitcoins with his brother. The portfolio was estimated at $11m at the time and would be far higher as the price of Bitcoins has soared in recent weeks.

Readers noted that Winklevoss was hardly an unbiased source of speculation on the matter of Bitcoin, concerns which he moved not-so-successfully to dismiss.

"I have put my money where my mouth is," he offered. "I stand to gain as well as lose depending on how the future unfolds."

As Winklevoss ponders the future of the Bitcoin market, others have been speculating on the origin of the cryptocurrency.

The International Business Times cited Butterfly Labs chief operating officer Josh Zerlan in speculating that Bitcoin creator Satoshi Nakamoto was actually an identity created by a group of individuals based in Europe.

Zerlan, whose company specialises in building Bitcoin-mining hardware, reckoned that a number people who work in the finance sector collaborated to create Bitcoins and have hidden behind the identity of Nakamoto while functioning as a group.

The identity of Nakamoto has long been a matter of speculation, with guesses ranging from economics professors to shady financial industry masterminds with ties to other markets and groups. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.